Value

  • Is Bitcoin a Store of Value? Experts on BTC as Digital Gold

    It’s hard to tell who was the first to coin — pun intended — Bitcoin as “digital gold,” underlining the idea that Bitcoin is a good store of value. The phrase possibly came into more widespread use after The New York Times journalist Nathaniel Popper’s book, “Digital Gold,” was published in 2015. Google searches for the term “Bitcoin digital gold” peaked in December 2017, when the leading cryptocurrency’s price hit record highs around $20,000 per coin.  For thousands of years of human history, people have used precious metals — namely copper, silver and gold — to fulfill the main functions of money: a unit of account, a medium of exchange and a store of value.  Well before Bitcoin was born, computer scientist Nick Szabo wrote a proposal for “bit gold,” laying out a concept for secure digital money that is often referred to as Bitcoin’s predecessor. After 10 years of existence, the question of whether or not Bitcoin can in fact be considered “digital gold” continues to be debated in the industry. Yes, Bitcoin is designed to be scarce, but when discussing it as a potential store of value, many point to Bitcoin’s…

    Jul 29, 2019
  • Bitcoin Trading at Triple It’s Value in 2019 Despite Correction from $14,000

    Overview BTC/USD scaled the levels impressively in the last week stepping above $13,000. BTC/USD likely to cement the position above $11,500 and push for correction above $12,000. Bitcoin depreciated greatly in value this week. The declines witnessed occurred just after BTC/USD scaled the levels impressively in the last week not only rising above $10,000 but forming a new yearly high almost at $14,000. The rollercoaster ride was so violent that expected support levels did nothing to stop the losses. As the market disembarks the rollercoaster, Bitcoin is seen fighting to stay above $11,000. Of course, this is after the reversal from the weekly support formed at $10,300. The breakout from the flag pattern we discussed yesterday did not happen as we thought. Instead, Bitcoin broke under the flag pattern support as well as the 38.2% Fib retracement level taken between the last swing high of $13,878.18 and a swing low of $10,302. BTC/USD hourly chart A shallow correction from the continuation pattern is limited by the support turned resistance at the 38.2% Fib level. Meanwhile, Bitcoin is trading at $11,646…

    Jul 1, 2019
  • Representation of Value Controversy in the History of Bitcoin

    As to whether bitcoin is meaningful or not, I believe everyone has an answer, and in the near future, time will help us solve doubts again.

    May 7, 2019
  • Mineable Cryptocurrencies Are Far More Valuable Than Non-Mineable Coins

    There are 2,121 digital currencies tracked on market websites with a net valuation of around $140 billion. Statistics for the end of Q1 2019 show mineable digital assets to be the most valuable cryptocurrencies on the market today, with the top eight mineable coins representing 68 percent of the entire cryptoconomy.

    Mar 27, 2019

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